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Strategies & Market Trends : Value Investing

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To: Spekulatius who wrote (25090)	6/27/2007 1:43:48 AM
From: Spekulatius	Read Replies (1) of 78744

Community bank - OSBK. This Mutual bank just did finish their 2nd step demutualization. Trading at 8.35$ which is substantially below below tangible book value (9.9$). This dinky Bank is very overcapitalized 35.3M$ equity with a 126M$ balance sheet and located in the boonies, so i don't think that Citibank will buy them out. But the stock is cheap and the bank is growing. I suspect that they need to find a use for their excessive capital, either buy another bank and/or buy back stock. Community bank stocks are not fancied now, but i think OSBK is worth a shot - i bought a position today.

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